Forgent closes upsized $49 Class A common stock offering
Forgent Power Solutions, Inc. has closed the upsized public offering of 43,650,000 shares of its Class A common stock at $49.00 per share. The offering included shares sold by parent entities controlled by Neos Partners, LP and shares sold by the company. Net proceeds to the company were used to redeem interests in an operating subsidiary held by Neos Partners, LP.
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Forgent Power Solutions, Inc. announced the closing of its upsized public offering of Class A common stock at a public offering price of $49.00 per share. The offering consisted of 43,650,000 shares, comprising 29,094,075 shares sold by parent entities controlled by Neos Partners, LP and 14,555,925 shares sold by the company. The transaction closed on July 6, 2026, following the effectiveness of the registration statement on Form S-1 by the Securities and Exchange Commission on July 1, 2026.
Share Offering Details
The distribution of shares was split between selling stockholders and the company. Forgent did not receive any proceeds from the shares sold by the selling stockholders. The net proceeds received by Forgent from the sale of its own shares were used to redeem interests in an operating subsidiary held by certain existing equity owners controlled by Neos Partners, LP. The operating subsidiary bore or reimbursed the company for all expenses of the offering.
| Shareholder Type | Number of Shares |
|---|---|
| Selling Stockholders | 29,094,075 |
| Forgent Power Solutions | 14,555,925 |
| Total | 43,650,000 |
Underwriting and Management
Goldman Sachs & Co. LLC, Jefferies and Morgan Stanley acted as joint lead book-running managers for the offering. J.P. Morgan, BofA Securities and Barclays acted as bookrunners. TD Cowen, MUFG, Wolfe | Nomura Alliance, KeyBanc Capital Markets, Oppenheimer & Co. and Stifel acted as passive bookrunners.
About Forgent Power Solutions
Forgent Power Solutions, Inc. is a designer and manufacturer of electrical distribution equipment used in data centers, the power grid and energy-intensive industrial facilities. The company specializes in manufacturing custom products that are "engineered-to-order" for technically demanding applications.
How will the redemption of equity interests in the operating subsidiary impact Forgent's future capital allocation strategy?
What are the anticipated growth drivers for Forgent's engineered-to-order products in the expanding data center market?
How might the reduction in Neos Partners' ownership stake influence Forgent's corporate governance and strategic direction?
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